Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) – Research analysts at Jefferies Group lifted their FY2017 EPS estimates for Vertex Pharmaceuticals in a research note issued on Wednesday. Jefferies Group analyst B. Abrahams now anticipates that the firm will post earnings of $1.27 per share for the year, up from their previous forecast of $1.14. Jefferies Group has a “Buy” rating and a $104.00 price objective on the stock.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The firm had revenue of $431.61 million for the quarter, compared to analysts’ expectations of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The business’s revenue for the quarter was up 159.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.54) earnings per share.
Several other research firms have also commented on VRTX. Zacks Investment Research lowered Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 27th. Maxim Group reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Thursday, September 29th. Cowen and Company restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Thursday, July 28th. BMO Capital Markets restated a “hold” rating and issued a $87.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, September 15th. Finally, Stifel Nicolaus reduced their price objective on shares of Vertex Pharmaceuticals from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Vertex Pharmaceuticals has an average rating of “Buy” and an average price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 0.87% on Friday, hitting $85.70. 983,269 shares of the stock were exchanged. Vertex Pharmaceuticals has a 52-week low of $75.90 and a 52-week high of $134.71. The firm’s market cap is $21.23 billion. The stock’s 50 day moving average price is $92.75 and its 200 day moving average price is $89.81.
In related news, Director Joshua S. Boger sold 6,500 shares of the stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $88.81, for a total transaction of $577,265.00. Following the sale, the director now owns 274,725 shares of the company’s stock, valued at $24,398,327.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stuart A. Arbuckle sold 1,208 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $86.46, for a total value of $104,443.68. Following the sale, the executive vice president now directly owns 114,566 shares in the company, valued at approximately $9,905,376.36. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of VRTX. Canada Pension Plan Investment Board raised its stake in shares of Vertex Pharmaceuticals by 89.5% in the first quarter. Canada Pension Plan Investment Board now owns 201,733 shares of the pharmaceutical company’s stock worth $16,036,000 after buying an additional 95,300 shares during the last quarter. Credit Agricole S A raised its stake in shares of Vertex Pharmaceuticals by 2.2% in the first quarter. Credit Agricole S A now owns 40,548 shares of the pharmaceutical company’s stock worth $3,222,000 after buying an additional 857 shares during the last quarter. Aviva PLC raised its stake in shares of Vertex Pharmaceuticals by 1.1% in the first quarter. Aviva PLC now owns 135,620 shares of the pharmaceutical company’s stock worth $10,780,000 after buying an additional 1,456 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $2,334,000. Finally, BlackRock Japan Co. Ltd raised its stake in shares of Vertex Pharmaceuticals by 3.0% in the first quarter. BlackRock Japan Co. Ltd now owns 311,284 shares of the pharmaceutical company’s stock worth $24,744,000 after buying an additional 8,992 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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